BEER Act could bring tax relief to brewers

New legislation introduced last week in Congress would cut excise taxes for small craft brewers to $3.50 on their initial 60,000 barrels, half the current rate, while also lowering the excise fee to $16 on production below 2 million barrels from $18 currently, The Wall Street Journal reported. The bill, which is being called the BEER Act for the Brewer’s Employment and Excise Relief Act, would redefine what “small” means, allowing brewers producing up to 6 million barrels to qualify for the lower taxes, the article said. Currently, to be considered small, brewers must not produce more than 2 million barrels. Under the new definition, the publicly traded Boston Beer Co., maker of the Sam Adams label, would qualify for the lower tax rate, The Wall Street Journal reported.

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